ZoomInfo Technologies (NASDAQ:ZI) Shares Gap Up After Analyst Upgrade

ZoomInfo Technologies Inc. (NASDAQ:ZI)’s share price gapped up prior to trading on Wednesday after Canaccord Genuity Group raised their price target on the stock from $14.00 to $15.00. The stock had previously closed at $9.53, but opened at $11.18. Canaccord Genuity Group currently has a buy rating on the stock. ZoomInfo Technologies shares last traded at $11.19, with a volume of 7,895,253 shares changing hands.

Other research analysts have also issued reports about the stock. Piper Sandler upgraded shares of ZoomInfo Technologies from an “underweight” rating to a “neutral” rating and boosted their price target for the company from $10.00 to $11.00 in a research report on Wednesday. KeyCorp lowered shares of ZoomInfo Technologies from a “sector weight” rating to an “underweight” rating in a research report on Friday, December 13th. Needham & Company LLC restated a “buy” rating and set a $15.00 price target on shares of ZoomInfo Technologies in a research report on Wednesday. Mizuho boosted their price target on shares of ZoomInfo Technologies from $9.00 to $11.00 and gave the company a “neutral” rating in a research report on Wednesday, November 13th. Finally, Stifel Nicolaus boosted their price target on shares of ZoomInfo Technologies from $13.00 to $14.00 and gave the company a “buy” rating in a research report on Wednesday. Five research analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $11.88.

Insiders Place Their Bets

In other ZoomInfo Technologies news, Director David Randall Winn sold 290,541 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $11.06, for a total value of $3,213,383.46. Following the completion of the sale, the director now directly owns 1,266,807 shares of the company’s stock, valued at $14,010,885.42. The trade was a 18.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CTO Ali Dasdan sold 4,898 shares of the business’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $11.01, for a total transaction of $53,926.98. Following the completion of the sale, the chief technology officer now directly owns 118,659 shares of the company’s stock, valued at $1,306,435.59. This represents a 3.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On ZoomInfo Technologies

Hedge funds and other institutional investors have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of ZoomInfo Technologies during the third quarter valued at about $37,000. Fifth Third Bancorp raised its stake in shares of ZoomInfo Technologies by 47.8% during the fourth quarter. Fifth Third Bancorp now owns 3,836 shares of the company’s stock valued at $40,000 after acquiring an additional 1,241 shares during the last quarter. GAMMA Investing LLC increased its position in shares of ZoomInfo Technologies by 29.1% during the fourth quarter. GAMMA Investing LLC now owns 5,152 shares of the company’s stock valued at $54,000 after buying an additional 1,160 shares during the period. Nisa Investment Advisors LLC increased its position in shares of ZoomInfo Technologies by 343.1% during the fourth quarter. Nisa Investment Advisors LLC now owns 6,115 shares of the company’s stock valued at $64,000 after buying an additional 4,735 shares during the period. Finally, SRS Capital Advisors Inc. increased its position in shares of ZoomInfo Technologies by 183.9% during the fourth quarter. SRS Capital Advisors Inc. now owns 8,441 shares of the company’s stock valued at $89,000 after buying an additional 5,468 shares during the period. 95.47% of the stock is owned by institutional investors.

ZoomInfo Technologies Price Performance

The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.73. The firm’s 50-day moving average is $10.25 and its 200-day moving average is $10.33. The company has a market cap of $4.03 billion, a PE ratio of 391.13, a PEG ratio of 13.05 and a beta of 1.01.

ZoomInfo Technologies (NASDAQ:ZI) last announced its quarterly earnings results on Tuesday, February 25th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.07). ZoomInfo Technologies had a net margin of 0.74% and a return on equity of 12.05%. The company had revenue of $309.10 million for the quarter, compared to analysts’ expectations of $297.64 million. On average, equities analysts anticipate that ZoomInfo Technologies Inc. will post 0.59 EPS for the current year.

About ZoomInfo Technologies

ZoomInfo Technologies Inc, together with its subsidiaries, provides go-to-market intelligence and engagement platform for sales and marketing teams in the United States and internationally. The company's cloud-based platform provides information on organizations and professionals to help users identify target customers and decision makers, obtain continually updated predictive lead and company scoring, monitor buying signals and other attributes of target companies, craft messages, engage through automated sales tools, and track progress through the deal cycle.